Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Tesco set to end ‘junk’ status with asset sell-off

Tesco is set to end its ‘junk’ status with the sale of its South Korean and Dunhumby consumer data businesses.

The supermarket is waiting for the first bids for its South Korean business on August 17, which could be worth more than £4bn, according to the Mail on Sunday.

It is also hoping to bank more than £2bn for the sale of its Dunhumby business.

A successful sale would be more than enough to plug the £5bn hole in its finances, which debt rating agency Moody’s reduced to junk in January.

In June, Moody’s said it would need more than £5bn to rebuild its balance sheet and get its investment grade credit rating back.



Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.